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Britain battles to limit SVB damage as would-be buyer for UK arm steps in

SoftBank-backed OakNorth Bank among the potential buyers

SVB (Silicon Valley Bank) logo is seen through broken glass in this illustration.    © Reuters

LONDON (Reuters) -- A would-be buyer for the UK arm of failed U.S. lender Silicon Valley Bank (SVB) stepped forward on Sunday as British Prime Minister Rishi Sunak said his government was working to limit any fallout for companies from the bank's demise.

Bank of London said it had submitted a formal proposal to the UK arm of SVB, as well as sending it to authorities, including the Treasury and the Bank of England.

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